14 November 2019Insurance

Terry Ledbetter to retire as chairman and CEO of State National

Terry Ledbetter, chairman and chief executive officer (CEO) of re/insurer Markel’s State National division, will retire at the end of 2019. Ledbetter founded State National with his brothers, Lonnie and Garry, in 1973.

He will be succeeded by State National president Matthew Freeman, who will become CEO effective January 1, 2020.

"We thank Terry for everything he has done for State National and Markel," said Richard Whitt, Co-CEO of Markel. "The vision he and his brothers had for taking a small Texas mutual insurance company and building it into the leading fronting business in the industry was simply amazing. We wish him all the best in the next chapter of his life. "Under Terry's leadership, State National established a strong industry reputation built around long-term client relationships, and we're confident Matt will do a great job building on his track record of sustainable growth and success.”

State National is a specialty provider of property and casualty insurance services operating in two niche markets across the United States. Its lender services business insures personal automobiles and other vehicles as collateral for loans made by credit unions, banks, and specialty finance companies. Its program services business provides access for reinsurers and other capital providers to the US property and casualty insurance market in exchange for ceding fees.

Freeman joined State National in 2016 as president. Markel acquired State National Companies in November 2017.

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

​​​Gallagher CEO Matson sorry for ‘insensitive comments’ in Ardonagh row

SSL Endeavour to launch MGA in Miami, USA

Zurich sets ambitious targets for 2020-2022

Energy and marine underwriters to be impacted by EU Turkey sanctions

Allianz launches new cyber product for mid-corporates

Praedicat to develop peril casualty product from Lloyd’s Lab

Sizable rate hikes for North American commercial insurance buyers

Flooding in Northern England could cost industry £120m: PwC

Growth rate slowing, risk perception growing in middle market

Don't miss our insurtech email newsletter - sign up today 

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
21 November 2019   ‘He brings deep administrative and operational experience.’
Insurance
11 November 2019   ‘We knew we needed a partner that shared our values.’
Insurance
4 November 2019   Markel UK, the division of Markel International that provides insurance, tax and legal services for SMEs, has acquired Caunce O’Hara & Company Ltd, following regulatory approval from the FCA.